Portland General Electric (NYSE:POR) Stock Position Boosted by Glenmede Trust Co. NA

Glenmede Trust Co. NA grew its stake in shares of Portland General Electric (NYSE:POR) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 325,945 shares of the utilities provider’s stock after buying an additional 2,371 shares during the quarter. Glenmede Trust Co. NA owned about 0.31% of Portland General Electric worth $15,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Freedom Investment Management Inc. bought a new stake in Portland General Electric during the third quarter worth approximately $210,000. Townsquare Capital LLC raised its stake in shares of Portland General Electric by 6.4% in the 3rd quarter. Townsquare Capital LLC now owns 7,607 shares of the utilities provider’s stock worth $364,000 after buying an additional 458 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Portland General Electric in the 3rd quarter worth $534,000. Algert Global LLC boosted its stake in Portland General Electric by 32.2% during the third quarter. Algert Global LLC now owns 216,367 shares of the utilities provider’s stock valued at $10,364,000 after buying an additional 52,710 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in Portland General Electric by 37.6% during the third quarter. Cerity Partners LLC now owns 49,448 shares of the utilities provider’s stock valued at $2,369,000 after buying an additional 13,519 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of Portland General Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Evercore ISI began coverage on shares of Portland General Electric in a report on Wednesday, September 25th. They set an “outperform” rating and a $54.00 target price for the company. Barclays decreased their price target on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Bank of America started coverage on Portland General Electric in a research report on Thursday, September 12th. They set an “underperform” rating and a $47.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on Portland General Electric in a research report on Friday, September 20th. They set a “hold” rating and a $48.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.86.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $48.30, for a total value of $120,750.00. Following the transaction, the senior vice president now directly owns 14,263 shares of the company’s stock, valued at $688,902.90. This represents a 14.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Portland General Electric Price Performance

POR opened at $48.06 on Friday. The firm has a market capitalization of $5.07 billion, a P/E ratio of 14.35, a PEG ratio of 1.22 and a beta of 0.59. The stock has a fifty day moving average of $47.40 and a 200-day moving average of $46.14. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.28. Portland General Electric has a 12-month low of $39.13 and a 12-month high of $49.85.

Portland General Electric (NYSE:POR) last announced its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts forecast that Portland General Electric will post 3.12 EPS for the current fiscal year.

Portland General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.16%. Portland General Electric’s dividend payout ratio is presently 59.70%.

Portland General Electric Profile

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.